Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) Sees Unusually-High Trading Volume – Should You Buy?

Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) shares saw unusually-strong trading volume on Thursday. Approximately 630,278 shares were traded during trading, an increase of 90% from the previous session’s volume of 331,270 shares. The stock last traded at $104.8260 and had previously closed at $105.24.

Fidelity NASDAQ Composite Index ETF Stock Performance

The business has a fifty day moving average price of $104.94 and a 200 day moving average price of $101.40. The company has a market capitalization of $10.87 billion, a PE ratio of 28.20 and a beta of 1.22.

Fidelity NASDAQ Composite Index ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, September 18th were issued a $0.1120 dividend. The ex-dividend date was Friday, September 18th. This represents a $0.45 dividend on an annualized basis and a yield of 0.4%. This is a drop from Fidelity NASDAQ Composite Index ETF’s previous quarterly dividend of $0.1430.

Hedge Funds Weigh In On Fidelity NASDAQ Composite Index ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC raised its stake in Fidelity NASDAQ Composite Index ETF by 1.8% during the 2nd quarter. Heck Capital Advisors LLC now owns 596,957 shares of the company’s stock valued at $61,618,000 after purchasing an additional 10,295 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in Fidelity NASDAQ Composite Index ETF by 21.4% in the 1st quarter. Kestra Advisory Services LLC now owns 510,241 shares of the company’s stock valued at $43,325,000 after purchasing an additional 89,794 shares during the period. Wealthspire Retirement LLC boosted its holdings in Fidelity NASDAQ Composite Index ETF by 6.8% in the 1st quarter. Wealthspire Retirement LLC now owns 468,223 shares of the company’s stock valued at $39,757,000 after purchasing an additional 29,709 shares during the period. Align Financial LLC bought a new stake in Fidelity NASDAQ Composite Index ETF in the 4th quarter valued at $27,128,000. Finally, Prasad Wealth Partners LLC boosted its holdings in Fidelity NASDAQ Composite Index ETF by 2.3% in the 1st quarter. Prasad Wealth Partners LLC now owns 253,916 shares of the company’s stock valued at $21,560,000 after purchasing an additional 5,730 shares during the period.

About Fidelity NASDAQ Composite Index ETF

Fidelity Nasdaq Composite Index Tracking Stock (the Fund) is an exchange-traded fund . The Fund seeks to provide investment returns that closely correspond to the price and yield performance of the NASDAQ Composite Index (the Index). The Fund normally invests at least 80% of assets in common stocks included in the Index .The NASDAQ Composite Index is a market capitalization-weighted index that is designed to represent the performance of NASDAQ securities and includes over 3,000 stocks. The Fund uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a portfolio of securities listed in the index that have a similar investment profile to the entire the Index.